The stock of HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) gapped up by $0.08 today and has $13.00 target or 5.00% above today’s $12.38 share price. The 5 months technical chart setup indicates low risk for the $32.82M company. The gap was reported on Dec, 1 by Barchart.com. If the $13.00 price target is reached, the company will be worth $1.64 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 40,663 shares traded hands or 83.25% up from the average. HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) has risen 5.92% since April 27, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.
Another recent and important HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) news was published by Theglobeandmail.com which published an article titled: “Two ETFs to help you profit from crude oil’s ‘sweet spot'” on February 10, 2014.
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